Off course I have seen the current market developement for Steem, just as the one for Steem Backed Dollar. High trade volume and market prices that go down, could mean a (panic) dump. Still, I know Coins that actually have no trade volume and do not generate anything anymore. Steem Backed Dollar is doing allright, allthough with about a fifth less trading volume in 24 hours, compaired to Steem. It is in higher demand. But what about Steem? Well, if you look at the other Graphene family member Bitshares, that one stabilized at a certain point and seems to be even on the rise again. A lot of daily trade volume there, no matter what. And the same accounts for Steem too.
Many coins make this price jump at first and then shortly after that are having a hard time. After that period a Coin will either make it to a more stable value, or the market trade slowly will come to a halt. But in my view that only happens to those ready-steady-go made Coins that anybody can buy on the internet. Too much of the same will overflow that part of the market very fast. Yet another algorythm, some allready must be at X21 by now, I can imagine. And it does not really add anything to the realm of Crypto Fiat Valuta. Should it be stopped? No, absolutely not, let it be. If it is rubbish it will filter itself out. And those who think they will get rich fast with an internet constructed coin, well, it will proof itself to be a poor strategy.
Those who try to slander Graphene either don't get it, or just don't want it to succeed
Why? Because in a real innovation there goes a lot of time and effort, and it does not just end when a coin or blockchain innovation has been released. Coding takes a lot of energy, specially when something does not turn out the way that it was supposed to, right away. And that is only the path to a stable release. Don't know if you have ever been to one of those 'announcement' fora, but it is not always such a nice place to be really. And when you have something new and exciting, that could be a real hit, then you are in for a treat. Because it will create envy, frustration, anger and what not too. But also there's is this thing called competition that some want to control with the use of force. Or, whatever it takes, it will be made to fail.
Now, if a new innovative technology does get past that extreme pressure then it is very likely that it will become steady in the long term. No matter what will be tried to make a system or invention look bad, it will take severe hits, but it will go on. And for me this describes the Graphene Blockchain technology. This means it accounts for Bitshares too, just look at how it developed and creates huge amounts of trade volume, every day! And it's cheap? Well, that means it's ideal for fast micro-payments, tipping and what not. Other blockchains cannot compete with this, they don't even come close, just do the calculations yourself, don't just take my word for it!
Succes not only attracts those who want to grant this to others
This had to create a stir in the old fashioned Blockchain porridge pool, and it appears to have done so. As the SteemIt community has been able to witness what happens when it does. Succes also attracts people who have a hard time granting this to others besides themselves. And it also means competition to some, what about their share of the market? These are all things that can give a succesfull newcomer a hard time. There are powers that be too in the coin realm of reality, we Steemers have seen what some of those people are willing to do, just to get Steem down. And I wrote it before, but did anybody understand that those people are launching their own 'content will get micropayments' platform? There is no coincidence here, really, it is all there to see for yourself. (And I won't advertise this platform here, just search and you'll find.)
Still, no matter what, it has taken it's toll on the price of Steem, while Steem Backed Dollar is still doing fine. This can be overcome, even when it would dip one more time, at some point the price would settle. And even then there would be future fluctuations, but they would be minor ones. There is no guarantee for this scenario, but as long as the market trade volume in a day is high means Steem can prevail. All it will take is time, but the last thing I am going to do, as a Content Creating Steemer, is sit back and wait for it to happen.
And I know I won't. Just now and then I will have a look at the market statistics and then move one, doing what I like to do, posting on Steem It.
Keep the faith and Steem on!
